Consumers, particularly millennials, are becoming less interested in meeting actual people to solve their problems and more interested in doing it themselves. With the rise of the internet, information is readily available to all. This allows consumers to search and find solutions to meet their needs in a matter of seconds. This is a tremendous opportunity for consumers but it is also a serious challenge for retail institutions. This is especially true for retail financial institutions such as community banks and credit unions.

OnApproach's Founder and CEO Paul Ablack discusses today's evolution of Big Data and how credit unions can benefit from this increasingly refined information to provide more specific products and services for enhanced value.

This week Apple announced the iPhone 6 which included fingerprint authentication and a new payment service called Apple Pay. I have been keeping an eye on the emergence of the new payment technology, often referred to as the “Digital Wallet” from both a consumer and a business perspective.